Pit & Quarry, May 2015
cessful IPO in March the first in the construction materials sector in more than 15 years The company raised about 400 million valuing the Blackstone Group controlled company at 167 billion Blackstone will remain In regards to congressional funding for a long term highway bill Republican approval will be a tough sell Looks like more of the same from this Congress the majority owner and will most likely look to reduce its investment as the stock performs and presents an attractive exit Summit Materials a collection of construction materials assets was founded in 2009 The company grew through 34 acquisitions achieving a critical mass that made it a candidate for an IPO It now has 11 companies in its portfolio Summit produces and supplies aggregates ready mixed concrete cement and asphalt paving among other things This company also engages in asphalt paving and road related construction activities Summit Materials reported revenue of 12 billion in 2014 and net income of 25 million on a pro forma basis At year end the company had total debt of approximately 11 billion Holcim Lafarge merger In April of 2014 Holcim and Lafarge announced the merger plans of Europes two largest cement companies resulting in a 44 billion market value company At the time the market cap of both firms was similar and the two companies agreed on an equal share swap Nearly a year after the deal was announced Holcims market cap was approximately 25 percent larger than that of Lafarge creating issues for Holcims largest shareholders The two primary drivers of the ECONOMICS PULSE USGS 2014 Figure 9 Asphalt Pavement Tons Produced Figure 10 Cement Consumption Pricing Call Now 631 750 1644 NAPA www amcastonline com i n n o v a t i o n i n a g g r e g a t e s y s tems leave your vsi in the dust with the rocky sand crusher Now stocking conveyor belting in two and three ply performance wear parts Wear resistant crusher castings for the recycling aggregate and mining industries Manufacturers of Blow Bars Jaws Cones Mono Aprons Apron Liners WRI www pitandquarry com May 2015 PIT QUARRY 43
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